World Economy

Latvia Factory Output Rises

Latvia Factory Output RisesLatvia Factory Output Rises

Last year has been fairly successful for Latvian producers as the Baltic country’s industrial output increased by 4.9% against 2015, according to data released by the national statistics office on Friday, Xinhua reported. Manufacturing picked up 5% and electric power and gas supply accelerated by 6.4% in 2016, while mining and quarrying slowed by 0.3%, the statistics showed. Achieving its fastest growth since 2012, the Latvian manufacturing industry provided the most significant contribution to economic growth last year, compensating a slump in construction, representatives of the Latvian Finance Ministry said, quoting the latest industrial output data.


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